Islamabad, October 26, 2022 (PPI-OT): President Dr Arif Alvi has said that higher education is of paramount importance for accelerated economic growth and development of the country. The President expressed these views while addressing the Members’ Convocation of the Institute of Cost and Management Accountants (ICMA), at Aiwan-e-Sadr. President ICMA Pakistan, Mr Shahzad Ahmed Malik, and members of the accounting and financial sector and students attended the ceremony.
While highlighting the importance of professional education, the President said that institutions should take effective measures for skill-based and professional education. He said that the graduates could play key role in the development of the country, adding that Pakistan was in dire need of trained human resources and professionals, including Cost and Management Accountants.
He urged the institutions to increase the number of university graduates and professionals. He said that professional institutions should produce more graduates because the industry and market were in dire need of skilled professionals.
The President also commended ICMA for producing the cost and management accountants in Pakistan. He said that corruption and non-merit caused deterioration in the institutions and the country. He said that corrupt practices were found even in a western country and during Covid-19 where people claimed wages on fake identities.
He said that the main reason behind the financial crime was the collusion of the officials with the criminals. He said that corruption and leakage should be stopped. The President said that enacting clear laws, ensuring their stringent and fair implementation, imparting justice through the due process of law, and inculcating self-accountability would pave the way for discouraging corruption and corrupt practices.
The President urged the members of the financial and accounting sector to provide leadership to help in the documentation of the economy, discourage theft and tax avoidance, curb corruption and help the government to generate just and fair taxes and revenues. He advised the students to have a passion for serving the country and the needy people for mitigating their hardships.
President ICMA, while addressing the ceremony, said that the members of ICMA were known for their expertise in the areas of business planning and development, operational management, financial management, cost management, risk management, taxation and corporate affairs. The members of ICMA were serving within Pakistan as well as abroad, he added. Earlier, the President awarded final qualification certificates to the graduating students.
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